Shell is the global oil company that's been mainly focused on oil, fuel and petroleum products (aka the stuff that ain't great for Earth).
Background: Shell is the global oil company that's worth a huge US$183 billion. It's been mainly focused on oil, fuel and petroleum products (aka the stuff that ain't great for earth).
What happened: The tide is seemingly turning on ol' Shell. The company just revealed it missed its third-quarter earnings expectations by around US$2 billion.
What else: Shell also set itself bigger carbon reduction targets. In fact, it committed to becoming a net-zero carbon emissions company by 2050. Phewww.
💡Governments around the world have been setting emissions targets, and incentives for people to take up electric vehicles.
💡This is scary for Shell, who make a big chunk of their revenue from petrol. Thankfully, it has also been investing in its renewable energy business.
💡The problem is that the oil & gas and the renewable energy businesses are so different that having them together could actually be bring down the value of both companies down. Confusing times for Shell.
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